Atomos Ltd. · ASX:AMS
Atomos — Investor Presentation (February 2021)
26 slides from Atomos's investor presentation, Feb 15, 2021
Slide 1: 1H FY21 Results Investor Presentation
Investor ThePress 1H Presentation FY21 Results 15 February July 2020 2021 Presentation Template Cupcake ipsum dolor sit amet. Sweet chupa chups cheesecake sugar plum. Sesame snaps cotton candy pie pie lemon drops ice cream croissant cheesecake. Tootsie roll tiramisu candy sesame snaps caramels halva
Slide 2: Agenda
“ Inventing and delivering ground-breaking technologies and Agenda products that 1H FY21 Summary 3 democratise the > Chris Tait, Exec Chair Financial Review creativity of content in > James Cody, CFO 7 the video age Group Strategy & Outlook 13 > Chris Tait, Exec Chair ” Q&A 22 Appendices 25 © ATOMOS
Slide 3: 1H FY21 Summary: Key Highlights
1H FY21 Summary Key Highlights Sales • $32.8m – strongest half in Atomos history Margin • 44.9% - ahead of expectations, in line with 1H FY20 (45.6%) ex COVID July sales promotions EBITDA • $3.0m1 – most profitable six months ever, 210% up on pcp2 Cash • $4.3m of cash generated (-$12.1m pcp) Strong
Slide 4: 1H FY21 Summary: Macro and Internal Factors
1H FY21 Summary Macro COVID • Whole of business review: structure, cost base, processes • Leaner, stronger, more efficient • COVID ‘video growth phenomenon’ Global environment • Forex - natural USD hedge • Component supply – tight management, buffer inventory Internal Organisation • Improved allocat
Slide 5: Best-ever sales building a new standard
1H FY21 Summary Best-ever sales… building a new standard ProRes RAW ProRes RAW Enabled Camera Market • Oscar & Emmy awarded Apple video format launched in 2018 • Longstanding relationship with Apple - only Atomos licensed to record 2683 natively in ProRes RAW • Monthly activations of ProRes RAW incr
Slide 6: Agenda
Agenda 1H FY21 Summary 3 > Chris Tait, Exec Chair Financial Review 7 > James Cody, CFO Group Strategy & Outlook 13 > Chris Tait, Exec Chair Q&A 22 Appendices 25 © ATOMOS 2021 | 1H FY21 RESULTS 6 |
Slide 7: 1H FY21 Financial Summary
1H FY21 Financial Summary (For the 6 months ending, 31 December 2020) • 1H FY21 revenue of $32.8m, up 0.6% on pcp1 (1H’20: $32.6m) Sales • Record first half revenue a strong recovery from COVID impact Gross Profit / • Gross profit of $14.7m (44.9%), down slightly on pcp but in line (45.6%) ex. COVID
Slide 8: 1H FY21 Financial Snapshot
1H FY21 Financial Snapshot Pro Forma Revenue ($m)1 Revenue by Market Segment (FY20 vs. 1H FY21) 54.0 1H'20 1H'21 44.4 $2.6m Social $2.9m 35.6 11.8 $6.5m $7.0m 29.7 2H Pro Video 31.1 2H Entertainment 17.3 32.6 32.8 16.7 2H 1H 1H 2H 24.2 18.4 1H 14.4 1H 1H $23.4m $22.6m FY17 FY18 FY19 FY20 1HFY21 Pro
Slide 9: 1H FY21 Financials - Pro Forma Income Statement
1H FY21 Financials - Pro Forma Income Statement Pro Forma (A$m) 1H'20 1H'21 ∆ pcp Key Insights: Revenue 32.6 32.8 0.1 • Record 1H’21 revenue of $32.8m up slightly on pcp, 176% up on 2H’20 COGS (17.7) (18.0) (0.3) • Gross profit margins down sightly due to tail of COVID promotion in July Gross Profit
Slide 10: 1H FY21 Financials - Pro Forma Balance Sheet
1H FY21 Financials - Pro Forma Balance Sheet Pro Forma (A$m) 30-Jun-20 31-Dec-20 Key Insights: Cash and cash equivalents 18.8 23.3 • Strong balance sheet with $23.3m cash as at 31 December 2020 Trade and other receivables 4.7 6.1 Inventories 16.8 15.2 • Receivables increase a reflection of higher sa
Slide 11: 1H FY21 Financials - Cash Flows
1H FY21 Financials - Cash Flows Cash Flows (A$m) 1H'20 1H'21 Key Insights: EBITDA (0.3) 3.5 • Operating cash flow positively impacted by: Gain on modification of lease 0.0 (0.5) Transaction costs 1.2 0.0 – EBITDA improvement; and Other non-cash items 0.1 0.3 – Reduced growth in working capital (inve
Slide 12: Agenda
Agenda 1H FY21 Summary 3 > Chris Tait, Exec Chair Financial Review 7 > James Cody, CFO Group Strategy & Outlook 13 > Chris Tait, Exec Chair Q&A 22 Appendices 25 © ATOMOS 2021 | 1H FY21 RESULTS 12 |
Slide 13: Where We Came From
Where We Came From Video is the most pervasive and expressive medium for recording & sharing of stories, events & memories… • Ten years ago, with a vision to connect the imaging and computer worlds1 Atomos invented the video processing computer which delivered affordable high-quality video • Core to
Slide 14: Building & Supporting Ever-Expanding Video Ecosystem
Building & Supporting Ever-Expanding Video Ecosystem • Atomos is building an ecosystem through collaboration with key industry players who bring products and tools to help video content creators • Atomos invents its own and supports partner standards that help interoperability across relevant produc
Slide 15: Our Unique Offer
Our Unique Offer Video Key Products Industry Technology Standard 2030 Rapidly Increasing More Consumption & More Products More Standards Technology Production of High- 2025 Quality Video Shogun S2 Sumo S2 Internet Neon S2 Streaming Series 2 Platform Studio S2 NDI (S2) Ninja Stream HDMI 2.1 V3.0 Vide
Slide 16: Scalability from Expansion of Atomos Series Technology Platform
Scalability from Expansion of Atomos Series 2 Technology Platform Solid Base • 10 years designing & manufacturing ground-breaking video capture and processing computers • Typical product lifespan of 3-4 years – Atomos provides continuous product upgrades and replacement • But… Atomos products have h
Slide 17: Atomos Partnerships
ATOMOS ATOMOS PARTNERSHIPS ATOMOS PARTNERSHIPS Best of breed CORE IP Best of breed Post Camera EDIT Production Makers Edit Software IMAGE Tools CAPTURE Apple, Sony, Canon Adobe, Avid Panasonic, Nikon, Fujifilm Olympus, Sigma, Z Cam CONNECTIVITY Live Streaming Opportunity Remote Production AI Cloud S
Slide 18: Outlook
Outlook Continue to focus on enabling content creators to deliver stunning quality, cost-effectively, with ease • Sales momentum has continued into 2H’21, and whilst cautious regarding COVID, we expect continued good progress during the second half • New products within our planned roadmap, includin
Slide 19: Outlook – Potential M&A
Outlook – Potential M&A Atomos will carefully consider acquisitions in the following areas: Technology Standards Selective businesses with an industry standard technology or which has the potential to define future standards Complimentary Tech Businesses with great technology / capability which will
Slide 20: Atomos Board & Senior Management
Atomos Board & Senior Management Board Executive Team Average tenure of the Board and senior Chris Tait Mark Harland management team is 5 years. Together Executive Chairman Chief Operating Officer they hold 10.9% of shares in the company Appointed: 2017 Appointed: 2020 (11.6% with all staff) Shares:
Slide 21: Corporate Snapshot
Corporate Snapshot Pricing Snapshot Major Shareholders Ticker AMS Ms Claire Louise Young (Jeromy Young) 8.2% Share Price $0.935 Ellerston Capital Ltd 7.5% Domazet FT3 P/L 6.4% Shares on Issue (m) 218.5 Top 6 shareholders ~35% Market Capitalisation (m) $204.3m Board of Directors Chris Tait Executive
Slide 22: Strong, sustainable, sales growth driving record EBITDA and cash generation
Strong, sustainable, sales growth driving record EBITDA and cash generation • Record $32.8m of half-year sales despite the impact of COVID • Sales driven by expansion of ProRes RAW ecosystem - 28 RAW enabled cameras from 10 camera makers • Record EBITDA of $3.0m, $4.5m positive cash flow, $23.3m cas
Slide 23: Contacts
Contacts James Cody Simon Hinsley Chief Financial Officer Investor / Media Relations +61 407 048 514 +61 401 809 653 james@atomos.com simon@atomos.com July 2020 Presentation Template Our vision is to invent and deliver ground breaking and disruptive technologies that Cupcake ipsum dolor sit amet. Sw
Slide 24: Agenda
Agenda 1H FY21 Summary 3 > Chris Tait, Exec Chair Financial Review 7 > James Cody, CFO Group Strategy & Outlook 13 > Chris Tait, Exec Chair Q&A 22 Appendices 25 © ATOMOS 2021 | 1H FY21 RESULTS 24 |
Slide 25: Atomos Core IP – Why We Can Democratise Creativity in Video
Atomos Core IP – Why We Can Democratise Creativity in Video + + Deep Tech Deep Relationships Brand • Custom video SoC • Camera companies • 10+ years old • Proprietary operating system • Hollywood • Deep customer engagement • Industry leading Codecs – • Video tech companies • High level of credibilit
Slide 26: Atomos Product Suite
Atomos Product Suite 4K Monitor Recorders Production / Studio Broadcast & Accessories Shogun Studio + NINJA + SHINOBI Ranges SHOGUN Range SUMO Range NEON Cinema Series Converters + Accessories • Ninja HDMI only – includes • HDMI & Quad SDI inputs • Larger format 19” monitor • HDR Professional monito